SINGAPORE (Dec 29): Keppel Offshore & Marine (Keppel O&M)’s local and overseas units have secured four contracts worth about $125 million from repeat customers.

In Singapore, the company’s subsidiary, Keppel Shipyard, secured two conversion contracts. The first is for a Liquefied Natural Gas (LNG) Floating Storage Unit (FSU) vessel awarded by Armada Floating Gas Storage, a unit of Bumi Armada Berhad.

Work on the LNG FSU conversion is expected to be completed in 3Q2016. Upon completion, the LNG FSU vessel will operate at the Delimara LNG Regasification Terminal in Malta.

The second contract is for a Floating Production Storage and Offloading (FPSO) vessel awarded by Yinson Production (West Africa). The latter is a unit of Yinson Holdings. Work is expected to start in 1Q2016.

The work scope includes modification work, new equipment installation complete with associated piping, electrical and instrumentation systems as well as installation and integration of the FPSO process topsides.

Upon completion, the FPSO will be deployed to the Offshore Cape Three Point block located in offshore Ghana.

As for Keppel O&M’s overseas yards, Keppel FELS Brasil SA’s BrasFELS shipyard in Rio de Janeiro, Brazil, secured a FPSO integration contract awarded by MODEC Offshore Production Systems.

BrasFELS will be carrying out integration and commissioning works on the FPSO vessel, Cidade de Caraguatatuba MV27 that is to be deployed in the Lapa field, Santos Basin, Brazil. It will depart from Keppel Shipyard and arrive at BrasFELS in 2Q16.

Meanwhile, Caspian Shipyard Company in Baku, Azerbaijian, secured a barge enhancement contract awarded by BP Exploration (Shah Deniz), operator of the Shah Deniz gas field development.

As part of this contract, Caspian Shipyard Company will be strengthening the steel structure of the hull of STB-1 Vessel, a purpose-built jacket transportation and launch barge. This is the third time the company has been chosen to carry out refurbishment or enhancement works for STB-1 Vessel.

Once the hull strengthening work is completed, STB-1 Vessel will be deployed to transport and launch two jackets for the Stage 2 development of the Shah Deniz field.

The above contracts are not expected to have any material impact on the net tangible assets and earnings per share of Keppel Corporation for the current financial year.

Shares in Keppel Corporation closed 0.76% lower at $6.50.